APTQI Joins Coalition Urging Congress to Stop -3.4% Medicare Cut
As a leading advocate for physical therapy quality and innovation, APTQI recognizes the importance of Medicare payment stability, not only for our member organizations but for the entire healthcare system and the patients it serves. That is why APTQI joined 53 other organizations on November 6 in signing a letter calling for Congress to stop the 3.4% payment cut the Centers for Medicare & Medicaid Services (CMS) recently finalized in the Calendar Year 2024 Medicare Physician Fee Schedule (PFS) final rule.
The 3.4% reduction that is scheduled to go into effect on January 1 is especially alarming in the face of growing challenges for healthcare providers. For example, the Medicare Economic Index predicts a 4.6% increase in medical practice cost inflation for 2024, placing clinicians in a precarious position as Medicare slashes rates. Unfortunately, the now-finalized cut will result in a significant blow to the stability and sustainability of healthcare providers including physical and occupational therapists. Ultimately, unless the cut is reversed, therapists fear that the cuts will jeopardize the accessibility and quality of care that millions of older Americans rely on.
The letter, co-signed by APTQI and other specialty healthcare organizations, underscores the urgent need for Congress to act. The finalized cut in Medicare payment is incompatible with the long-term goals of our healthcare system, which include enhancing access to high-quality care and ensuring that healthcare providers can continue to provide essential services. While the decision to increase payments for primary care services through the creation of the new G2211 code was well-intentioned, the groups wrote, it comes at a significant cost: the unintended consequence is an across-the-board cut that affects all providers under the physician fee schedule.
Urgent help is needed to stop the 3.4% payment cut. Congress must pass legislation before the end of this calendar year to block these harmful cuts from implementation in 2024. APTQI urges all physical and occupational therapy advocates to act now.